USA/Endeavor: TKO to acquire On Location, IMG & the World Rodeo League for $3.25bn

TKO Group Holdings, a joint venture formed in April 2023 combining the UFC and WWE businesses, is to acquire Professional Bull Riders (PBR, the world's premier bull rodeo league), On Location (hospitality) and IMG (global sports, events and entertainment agency) from Endeavor Group Holdings, which is also TKO's majority shareholder, according to the US group on 24/10/2024. The deal is valued at $3.25bn (€3bn).

The acquisition of IMG does not include the activities associated with the IMG brand in terms of licensing, modelling and representation of tennis players, nor IMG's entire events portfolio. "Adam Kelly will lead IMG as president," added TKO.

"In addition to complementing TKO's existing core UFC and WWE businesses, the strategic acquisition of these sports and hospitality assets from Endeavor expands TKO's operational footprint in the fast-growing premium sports market," explained TKO, whose board of directors approved the repurchase of up to $2bn (€1.85bn) of its ordinary shares on the same day.

As part of the transaction, "Endeavor will receive approximately 26.14 million…